First Citizens Bank & Trust Co. Reduces Stake in Emerson Electric Co. $EMR

First Citizens Bank & Trust Co. lowered its holdings in Emerson Electric Co. (NYSE:EMR) by 1.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 13,565 shares of the industrial products company’s stock after selling 175 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Emerson Electric were worth $1,809,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Saudi Central Bank purchased a new position in shares of Emerson Electric in the 1st quarter valued at about $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Emerson Electric in the 1st quarter valued at about $27,000. PFS Partners LLC increased its holdings in shares of Emerson Electric by 65.9% in the 2nd quarter. PFS Partners LLC now owns 272 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 108 shares during the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of Emerson Electric in the 2nd quarter valued at about $38,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in Emerson Electric by 436.4% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 354 shares of the industrial products company’s stock worth $39,000 after buying an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EMR. Bank of America raised their price target on Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada raised their price target on Emerson Electric from $154.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. JPMorgan Chase & Co. raised their price target on Emerson Electric from $135.00 to $151.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. KeyCorp raised their price target on Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Finally, Citigroup raised their price target on Emerson Electric from $146.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.28.

Emerson Electric Stock Up 2.3%

EMR opened at $133.16 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63. The business has a 50 day simple moving average of $131.75 and a 200-day simple moving average of $126.64. The stock has a market capitalization of $74.94 billion, a P/E ratio of 28.64, a P/E/G ratio of 2.25 and a beta of 1.29. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. The business had revenue of $3.16 billion during the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%. On average, equities analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. Emerson Electric’s dividend payout ratio (DPR) is presently 45.38%.

About Emerson Electric

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.